29247 Allan St Lake Elsinore, CA 92532
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About this home
Welcome to your perfect blend of comfort, convenience, and character! This refreshed 3-bedroom, 2-bath home sits in a prime location just off the 15 Freeway—close to Costco, Walmart, the brand-new In-N-Out coming soon, and a Stater Bros. on the way. No need to drive deep inland to unwind—this home keeps you connected to everything while offering the privacy you crave. Inside, fresh paint, soaring ceilings, and exposed wood beams create an open, inviting atmosphere. A cozy fireplace anchors the living space, while the kitchen features durable Corian countertops. Some bedrooms have been upgraded with new double-paned windows for added comfort and energy savings, plus recent copper plumbing and a whole-home soft water system add peace of mind. A permitted bonus room with a wet bar sets the stage for entertaining, while the expansive, pool-sized backyard with a built-in fire pit is perfect for evenings under the stars. Sitting on just under a half-acre corner lot, this property has it all: RV parking, a large carport, a barn for storage or hobbies, a two-car garage, and a newly built block wall for privacy. With no HOA, low taxes, and endless potential to customize, this home checks all the boxes—space, convenience, and value. Whether you’re hosting friends, storing your toys, or simply enjoying your own private retreat, this property has everything you’ve been searching for.
Source: CRMLS #SW25186839
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Close stress-free in 45 days, handled start to finish by Roam.
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FAQs
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.